Rapid growth of New Energy vehicle Market: GAC Ean cooperates with Ganfeng Lithium Industry to enter Lithium Mining Industry

CTOnews.com August 20 news, learned from GAC Ean, August 16, GAC Ean and Ganfeng lithium industry held a strategic cooperation agreement signing ceremony. The two sides cooperate from the upstream material side of new energy power batteries to explore cooperation in the development of lithium resources, deep processing of mid-stream lithium salts and comprehensive recycling of batteries.

CTOnews.com learned that GAC GROUP chairman Zeng Qinghong said that the current new energy vehicle market is in a stage of rapid growth, and the main factors affecting sales growth are cost, chip supply and infrastructure. Battery costs have accounted for more than 50 per cent of vehicle costs, limiting further growth in sales.

According to reports, GAC Ean and Ganfeng lithium industry can explore cooperation in lithium resources, battery recycling, battery echelon utilization and other aspects in the future, relying on their respective industrial foundation and industry resource advantages in the field of new energy.

According to the data, GAC Ian sold 25033 units in July, an increase of 138% over the same period last year. The cumulative sales in January-July were 125284 units, an increase of 135% over the same period last year.

GAC Ean said it is building a large-scale trial line for self-developed batteries, which is expected to be completed and put into operation by the end of 2022. It will be used to independently produce self-developed advanced batteries, including sponge silicon negative electrode batteries. In addition, Ian is about to set up a special battery company to fully layout the battery research and production.